International Monetary Fund: Commodity Market Monthly January 2014

Last Friday, the International Monetary Fund (IMF) released its January 2014 Commodity Market Monthly. This report provides an update on global commodity prices. According to the report, global commodity prices rose 2.4 percent in December 2013, with increases in most main indices. During 2013, commodity prices increased 0.8 percent, with gains concentrated in the energy sector, up 3 percent from December 2012. Metals prices declined 7 percent due to continued increases in new capacity.

Agriculture prices fell 2 percent, led by a 26 percent drop in cereal prices due to recovery in output from last year’s drought. Of note, seafood prices surged 47 percent on strong demand.